Risk management involves evaluating and predicting potential threats, identifying and implementing necessary measures to prevent negative impact and damage to the brand. Once a threat is identified before it affects your organization, risk management engages in the process of avoiding these risks. Thus, risk management is a process of predicting and dealing with potential threats.
IT risk management is a form of risk management for the IT sector. IT risk management refers to the extensive process of evaluating risks for every component of an IT structure. It works for systems or data, like macro-level risk management, or with software applications used in a company, instead of functioning as micro-level risk management. Learn more about IT asset management here.
In both cases, risk management is of great importance for IT departments in companies. Without sufficient management, business processes can have difficulty remaining effective. Internal threats such as a complex IT landscape and a large website portfolio must be addressed by risk management to ensure smooth business operations.
How does Enterprise Architecture look like?
Enterprise Architecture is the standardized way of designing the business processes, departments, and organizational charts of a company to make things more manageable. It helps companies gain visibility into their entire enterprise by carefully analyzing and identifying how the enterprise is structured. Enterprise Architecture is about making the integral segments of a company’s organizational structure visible and traceable, not just limited to departments. Enterprise Architecture can also refer to the management of applications, websites, or technologies. Different domains of Enterprise Architecture can be as follows:
- Business Architecture
- Application Architecture
- Data Architecture
- Technology Architecture
An Enterprise Architect is the business function responsible for executing Enterprise Architecture in a company. They deal with how technology is used in a company to further optimize the alignment of all components in the company. Enterprise Architects may have different job descriptions and tasks from sector to sector or from company to company.
What benefits does enterprise architecture offer for risk management?
With a clear view of everything, potential threats and risks can be more easily identified. Thanks to the visible environment created by enterprise architecture, you can understand which applications are offline, which departments are less productive, and assess the profitability of your company.
What is the value of website portfolio management for enterprise architecture?
Website Portfolio Management (WPM) is a framework for managing and evaluating the websites in a company’s portfolio. With the WPM approach, all websites are accounted for and analyzed based on their real business value. This allows a company’s website architecture to be evaluated with data-driven insights. There are several ways in which Website Portfolio Management can assist enterprise architecture:
- A visible IT structure: Monitoring all websites and their performance provides a comprehensive view of the IT landscape.
- Identify failure-prone websites: Since website failure history is often stored in WPM software, it becomes easier to analyze the performance of a specific website and identify threats.
- Prioritizing innovations and finding the right software to invest in: A more visible and efficient Enterprise Architecture comes together with the use of the right software.
Efficient risk management is crucial for enterprises, especially in the IT sector. Enterprise Architecture offers a standardized way of designing the business processes, departments, and organizational charts of a company, which makes it easier to identify potential risks and threats. Website Portfolio Management (WPM) can assist in this process by providing a comprehensive view of the IT landscape, identifying failure-prone websites, and prioritizing innovations.
If you want to learn more about how our IT risk management solutions can help your enterprise, get in touch for a free demo today!